Hyundai Mobis Q3 net jumps 78% on sales growth of key components
Hyundai Mobis Co., South Korea's leading auto parts maker, said Friday its third-quarter net income jumped more than 70 percent on-year thanks to robust sales of its high-end auto components.
Consolidated net profit came to 998.1 billion won ($736.8 billion) during the July-September period, up 78.3 percent from a year earlier, the company said in a regulatory filing.
Sales grew 7 percent on-year to 14.23 trillion won, while operating profit jumped 19.8 percent to 690.2 billion won.
The earnings beat market expectations. The average estimate of net profit by analysts was 843.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Hyundai Mobis, part of Hyundai Motor Group, attributed its stronger on-year performance to an increase in the supply of high-end components, including module and core parts, used in vehicle production and the stabilization of logistics costs.
The company's module and core parts division logged an 8.1 percent on-year growth in sales. Its electrification component business in particular grew 9.3 percent in sales from last year.
Sales from the supply of components used for after-sales customer service also saw 2.7 percent growth thanks to increased global demand. Hyundai said operating profit in the division grew 11.9 percent thanks to the stabilization of logistics fees.
Hyundai Mobis earns about 90 percent of its sales from Hyundai Motor and Kia, with 10 percent coming from other carmakers.
The company said it was consistently increasing the volume of its orders from major clients, including Volkswagen, Mercedes-Benz, GM and Stellantis. (Yonhap)
(责任编辑:뉴스)
- 'Do not open plane doors' warning mandated for planes in flight
- Political strife may delay Korea’s launch of new space agency
- LG chief convenes CEO meeting to review growth strategy
- [Herald Interview] Kim Jee
- BOK likely to keep policy rate unchanged on slowdown, hope for Fed's rate freeze, easing inflation
- Broadcom to appeal S. Korean regulator's fine over unfair Samsung Electronics deal
- [Herald Review] ‘Cobweb,’ a fresh, new wind in the Korean box office
- Breadwinners in their 60s or above double in 9 years
- "조선의 샛별 여장군, 세계가 우러러 볼것"…北, 김주애도 우상화
- Hyundai Motor may sell Russian plant to local firm
- [Today’s K
- Will Kep1er disband? Project group eyes extension with 'Magic Hour'
- Daily Sports Hankook hopes to help stengthen Korea
- Govt. to survey spending on private education of preschoolers, Suneung retakers
- Seoul shares close more than 1% higher on extended Israel
- Milk prices to go up in Oct.
- 카메라 찍힌 김여정 960만원 '디올 백'…그 자체가 北인권 참상
- 4th Global Biz Forum kicks off to discuss 'next prosperity'
- Jeju's autonomy is model for Western Sahara: Morocco
- Will Kep1er disband? Project group eyes extension with 'Magic Hour'
- Mirae Asset Securities names Kim Mi views+
- 탄약 찾는 러…국방부 "北컨테이너 적재량, 포탄 수십만발 분량" views+
- Architect Dominique Perrault's 'Lightwalk' displayed at French Embassy in Seoul views+
- 카타르 국왕, 내년 방한 수락…“중동 107조 운동장 열려” views+
- Italian architect Franco Mancuso donates archives on Korean Pavilion at Venice Biennale views+
- [Today’s K views+
- Hyundai Mobis Q3 net jumps 78% on sales growth of key components views+
- Korean beef prices, poultry shares soar as cattle disease spreads views+
- Cirque Du Soleil mesmerizes Seoul with 'Luzia: A Waking Dream of Mexico' views+
- [Korea Beyond Korea] Professor awarded for building Korean studies in US views+